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Internet of Things (IoT) Market 2019 Global Size, Share, Industry Segmentation, Analysis and Forecast to 2022
[June 10, 2019]

Internet of Things (IoT) Market 2019 Global Size, Share, Industry Segmentation, Analysis and Forecast to 2022

According to a new market research report " Internet of Things (IoT) Market by Software Solution (Real-Time Streaming Analytics, Security Solution, Data Management, Remote Monitoring, and Network Bandwidth Management), Service, Platform, Application Area, and Region - Global Forecast to 2022” ", published by MarketsandMarkets™, The IoT market size is expected to grow from USD 170.57 Billion in 2017 to USD 561.04 Billion by 2022, at a Compound Annual Growth Rate (CAGR) of 26.9% from 2019 to 2022.

The major forces driving the IoT market include the adoption of cloud Platform as a Service (PaaS). Moreover, the advent of advanced data analytics and data processing is also fueling the growth of the IoT market, as advanced analytics and data processing are useful in deriving results from the high volumes of data collected using the machine-to-machine communication.

Browse and in-depth TOC on “Internet of Things (IoT) Market” 60- Tables 48 - Figures 162 - Pages Ask for PDF Brochure @ Major Key Companies The major vendors in the IoT market include Google Inc. (US), Hewlett Packard Enterprise (US), Amazon Web Services (US), Bosch Software Innovation GMBH (Germany), General Electric (US), Intel Corporation (US), SAP SE (Germany), Cisco Systems Inc. (US), Microsoft Corporation (US), Oracle Corporation (US), International Business Machine (IBM) Corporation (US), and PTC Inc. (US).

Industry Segmentation: The IoT market consists of things or objects that are connected to the internet, i.e. anything can be accessed anytime and from anywhere. It comprises integrating sensors and devices into everyday objects that are connected to the internet over fixed and wireless networks. The fact that the internet is present everywhere makes mass adoption of this technology more feasible. Given their size and cost, the sensors can be integrated easily into homes, workplaces, and public places. This process enables objects to connect and manifest themselves over the internet. In addition, in IoT, any object can be a data source. IoT is not a revolutionary or innovatory concept. It is an evolutionary perception, equivalent to the evolution on the networking technologies of the present (internet, service platforms, and wireless).

The Internet of Things (IoT) Market is segmented on the basis of software solutions, services, platforms, application areas, and regions. The software solution holds the largest market size among all the other segments, owing to the increase in development of cloud-based applications and adoption of cloud for storage of data. The service segment is categorized into professional services and managed services. The application area segment is segmented into building and home automation, smart energy and utilities, smart manufacturing, connected logistics, connected health, smart retail, smart mobility and transport, and others (education and agriculture).

IoT applications in Smart Energy and Utilities, Smart Manufacturing, Building and Home Automation and Smart Retail drive the growth of IoT market Smart Energy and Utilities The IoT in energy and utilities means the deployment of IoT solution in power generation industry. The solutions are primarily aimed at achieving convergence of machines and intelligent data to enhance the operational efficiency targets being set by the energy companies. The development of ‘Smart Grids’ is the first application of IoT in the energy sector.

Smart Manufacturing Smart manufacturing is an integration of machine and human intelligence and data sharing between sensors, computerized control, information technology, and production management software. It interconnects and harmonizes individual stages of manufacturing production to advance plant-wide efficiency.

Building and Home Automation The market for IoT home automation is advancing with the introduction of connected devices for buildings and houses. Nowadays, consumers are increasingly interested in knowing how home automation can provide more convenience, savings, and security.

Smart Retail IoT is reshaping and revolutionizing the retail industry. The IoT in retail is accelerating the time to solution deployment, simplifying the path to cost savings, new efficiencies, inventory accuracy, smarter marketing, and better customer experiences with an end-to-end solution.

Browse Complete Report @ About MarketsandMarkets™ MarketsandMarkets™ provides quantified B2B research on 30,000 high growth niche opportunities/threats which will impact 70% to 80% of worldwide companies’ revenues. Currently servicing 7500 customers worldwide including 80% of global Fortune 1000 companies as clients. Almost 75,000 top officers across eight industries worldwide approach MarketsandMarkets™ for their painpoints around revenues decisions.

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